QuantumScape (NYSE:QS) Trading Down 0.9% – Here’s What Happened

QuantumScape Co. (NYSE:QS) was down 0.9% during mid-day trading on Tuesday . The stock traded as low as $6.30 and last traded at $6.52. Approximately 11,835,812 shares traded hands during trading, a decline of 47% from the average daily volume of 22,245,848 shares. The stock had previously closed at $6.58.

Analyst Ratings Changes

Several research firms have recently commented on QS. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a research note on Tuesday, November 19th. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, Truist Financial reiterated a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.26.

QuantumScape Trading Down 9.1 %

The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average is $5.20 and its 200-day moving average is $5.68. The company has a market cap of $2.93 billion, a PE ratio of -6.02 and a beta of 4.46.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the company earned ($0.23) earnings per share. As a group, sell-side analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Transactions at QuantumScape

In related news, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the completion of the sale, the director now directly owns 241,195 shares in the company, valued at $1,215,622.80. The trade was a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mohit Singh sold 97,305 shares of the stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the transaction, the insider now owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. The trade was a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 536,460 shares of company stock worth $2,903,619. 12.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QuantumScape

A number of large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its position in shares of QuantumScape by 6,650.0% during the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after buying an additional 133,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after acquiring an additional 218,743 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in QuantumScape in the second quarter worth $1,950,000. Weiss Asset Management LP acquired a new position in shares of QuantumScape during the third quarter worth $828,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of QuantumScape during the 2nd quarter valued at $680,000. Institutional investors own 29.87% of the company’s stock.

QuantumScape Company Profile

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.